"I will uphold all my legal rights to defend my reputation as well as that of my family," he said in a speech broadcast on an Arab satellite news channel. "I have been, and still am, pained by what I and my family are facing from fraudulent campaigns and unfounded allegations that seek to harm my reputation, my integrity and my military and political record."

Mubarak said he held just one account with an Egyptian bank, and promised to co-operate with any investigation in order to prove that he did not have property or bank accounts abroad. He also denied similar accusations against his wealthy and once powerful sons, Alaa and Gamal.

The al-Arabya news channel said the speech was recorded on Saturday in response to demonstrations in Cairo called in part to demand Egypt's military rulers investigate the source of Mubarak's wealth.

The ruling military council, which took control of the country after Mubarak was toppled on 11 February, attempted to defuse the new wave of protests by announcing it would sack unpopular provincial governors appointed by the former president.

But on Sunday more than 1,000 demonstrators rejected demands by the army to leave Tahrir Square, the heart of the uprising that brought down Mubarak.

On Saturday the army opened fire on a crowd in the square, killing at least two people and wounding dozens, and on Sunday some of the demonstrators called for a new revolution.

They brandished an effigy of the head of the ruling military council, Field Marshal Mohamed Hussein Tantawi. "The people demand that the field marshal be toppled," the protesters chanted.

The soldiers' firing on the protesters opens a breach between the military and many Egyptians who had chanted "the people and army are one" at the anti-Mubarak rallies. On Saturday they chanted "the people and people are one", in an open rebuke to the military which some say is not moving swiftly enough to dismantle the old regime and towards democracy.

The army has promised elections for parliament in September and held a referendum on a new constitution, which passed. But it has attempted to ban protests and continues to arrest and torture dissidents despite a professed commitment to freedom of speech.

Ahmed el-Moqdami, who told Reuters he was in a group representing the youth of Upper Egypt, said the standoff with the army would continue. "We will continue the sit-in until our demands are met," he said. "First of all, the field marshal must go. Mubarak must be put on trial and a civilian council must be formed for the transition period."